Confidential Transactions Made Easy With Sumokoin

Confidential Transactions Made Easy With Sumokoin

Sumokoin is a cryptocurrency which enables highly confidential worldwide transactions. The coin is a fork from Monero, one of the top 10 cryptocurrenc

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Sumokoin is a cryptocurrency which enables highly confidential worldwide transactions. The coin is a fork from Monero, one of the top 10 cryptocurrencies based on market capitalisation. Although Sumokoin does not have the three years of history of Monero, Sumokoin shares all the positive features of one of the most popular cryptocurrencies in the world. Sumokoin offers a high level of privacy since payments are virtually untraceable. The peer to peer network of the coin is reliable and every transaction is cryptographically secured. Sumokoin is well worth an investment because it is designed to continue to be profitable even in the long term.

Sumokoin’s lead developers are Sumoshi Tanaka, Haruto Tanno, Bill Aue and Vu Quang. The four creators have developed a fork from the open source code of Monero in order to make use of all the advantages of the highly rated cryptocurrency. Last year (2016) Monero went through a fast growth in market capitalisation and transaction volume. The cryptocurrency’s market cap increased with 180 million US dollars for only one year. Monero is also truly innovative in the way it protects customers’ personal data. Ring signatures hide the address of the sender, RingCT hides the amount of the payment and stealth addresses make the recipient’s address invisible.

Being a fork of Monero, Sumokoin has naturally inherited the security of the network. As a result, Sumokoin offers not only privacy but also security against blockchain attacks. Sumokoin has a total coin supply of 88,888,888 coins in the first 20 years. Approximately 10% of them, or 8.8 million, were previously mined. 98% of these 8.8 million were locked in escrowed wallets and saved for future development. This means that the coin was created with a long term vision in mind. In spite of that, there are over 80 million coins currently available for mining. Sumokoin runs on a CryptoNight algorithm and a Proof of Work mining protocol. The block reward changes every six months and is planned to gradually increase at first, accelerate afterwards and slowly decrease at the end.

Sumokoin distinguishes itself from Monero not only by having different total coin supply, emission scheme and block reward. Sumokoin aims at stability in the long term and that is one of the main reasons to invest in it. Sumokoin is now working on popularising the coin and making it widely accepted among companies and merchants. Even beginner cryptocurrency users can purchase and trade the coin and store it in a desktop or a mobile wallet. Sumokoin carries the benefits of Monero and adds value with simplicity and long-term reliability.